Shiba Inu's $1 Dream Crushed by Market Reality

Shiba Inu's (SHIB) dream of reaching $1 has been met with skepticism by macro strategist Michael Gayed. He argued that the math behind this goal is flawed, citing the token's massive circulating supply and the enormous market capitalization required to hit the ambitious price target.

Gayed pointed out that even with aggressive token burns, SHIB would need a valuation unlike anything seen in the crypto market. This would dwarf not only most cryptocurrencies but also many of the world's largest financial markets.

The strategist's criticism reflects his broader view of financial markets, which he believes are experiencing a global liquidity crisis. He argues that the unwinding of carry trades is draining liquidity from risk assets, and investors are moving away from speculative positions as central banks reduce easy-money policies.

Gayed also extended this criticism to Bitcoin (BTC), stating that it has failed to prove itself as a defensive asset and remains a high-risk investment wrapped in a compelling narrative. SHIB continues to struggle alongside the wider crypto market, trading deep in fractions of a cent with five zeros after the decimal place.